Sansure Biotech(SH:688289)2023-04-18 16:00Financial Performance - The company achieved total operating revenue of CNY 645,035.66 million, a year-on-year increase of 42.88%[1] - The net profit attributable to shareholders was CNY 193,680.05 million, a year-on-year decrease of 13.64%[1] - Operating costs rose to CNY 2,655,367.60 million, reflecting a significant increase of 107.61% compared to the previous year[3] - The net cash flow from operating activities was CNY 2,558,946.92 million, up 36.33% year-on-year, driven by increased sales[3] - The company's operating revenue for 2022 was CNY 6,450,356,637.86, representing a 42.88% increase compared to CNY 4,514,539,266.46 in 2021[56] - Net profit attributable to shareholders for 2022 was CNY 1,936,800,511.21, a decrease of 13.64% from CNY 2,242,696,395.58 in 2021[56] - The net cash flow from operating activities for 2022 was CNY 2,558,946,923.35, an increase of 36.33% compared to CNY 1,877,070,615.13 in 2021[56] - The company's total assets at the end of 2022 were CNY 9,173,762,083.74, a 29.38% increase from CNY 7,090,370,148.22 at the end of 2021[56] - The weighted average return on equity for 2022 was 27.29%, a decrease of 11.73 percentage points from 39.02% in 2021[56] Research and Development - Research and development expenses increased by 76.97% to CNY 331,834.41 million, indicating a focus on innovation[3] - Research and development expenses accounted for 5.23% of operating revenue in 2022, an increase of 1.08 percentage points from 4.15% in 2021[56] - The total R&D expenditure reached CNY 33,715.45 million, an increase of 79.81% compared to the previous year, with 546 R&D personnel, up by 167 from the end of 2021[80][89] - The company has filed 111 new patents, including 4 overseas patents, enhancing its innovation capabilities[113] - The company has added 167 R&D personnel, bringing the total to 546, with expertise across multiple fields including molecular biology and immunology[198] - The company’s R&D expenses increased significantly, with a total of ¥331.83 million in expensed R&D, up 76.97% from the previous year[197] Market Expansion and Internationalization - The company has established overseas subsidiaries in Indonesia, France, the UK, the Philippines, and the USA, expanding its global footprint[16] - Products have been exported to over 160 countries and regions, including France, Italy, and the UAE, as part of the internationalization strategy[16] - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[72] - The company has completed the acquisition of a local biotech firm for RMB 150 million to enhance its product portfolio[72] - The company has expanded its presence in major provincial cities and established partnerships with leading hospitals and medical institutions, enhancing its market position[27] Quality Control and Compliance - The company emphasizes a quality-first approach, implementing a comprehensive quality control system throughout the production process[17] - The company has implemented a strict quality management system, achieving ISO13485 and ISO 9001 certifications to ensure product quality and safety in production[155] Risk Management - The company has received multiple government subsidies and tax incentives as a high-tech enterprise, which may be adversely affected by future policy changes[23] - The company has implemented foreign exchange hedging to mitigate risks from currency fluctuations, particularly in its export business[23] - The company is facing industry risks due to strict regulatory policies in the medical device sector, which may impact its operational strategies[24] - The company is actively adapting to market changes and regulatory policies resulting from healthcare reforms in China[24] Shareholder Returns - The company distributed a total cash dividend of RMB 1,007,445,013.62, accounting for 52.02% of the net profit attributable to shareholders in 2022[41] - The company plans to distribute a cash dividend of CNY 4.321 per 10 shares, totaling CNY 250,052,277.83, subject to shareholder approval[63] - The company has engaged in share buybacks, with a total expenditure of RMB 257,387,915.84 during the reporting period[41] - The company has implemented a cash dividend policy since its listing in August 2020, distributing over 1.6 billion RMB in cash dividends across six occasions[100] Product Development and Innovation - The company launched a new PCR testing kit, which is expected to generate an additional RMB 100 million in revenue within the first year[72] - The company has launched several new products, including a six-pathogen respiratory test and HPV 23 typing, addressing industry pain points[107] - The company has developed a comprehensive HPV testing solution, becoming a leader in the domestic HPV DNA testing market with the most certified products[117] - The company has developed a unique rapid drug sensitivity testing technology that addresses the long time and high failure rate currently associated with detecting antibiotic sensitivity, which helps improve the clinical issues of antibiotic misuse and overuse[122] - The company has developed advanced digital PCR technology, enhancing efficiency and accuracy for clinical applications[190] Social Responsibility - The company has donated over 30 million yuan in cash and materials for public health events and disaster relief, highlighting its commitment to social responsibility[149]